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LIA members back merger but Sofa is divided

LIA members support the proposed merger with Sofa but Sofa members are split.

The merger plan would create a single body with around 25,000 members. The proposal will be put to the vote later this year.

A Money Marketing Online survey shows Sofa members are split on whether the merger is a step in the right direction, with 54 per cent in support and 46 per cent against.

The LIA&#39s membership is considerably keener,with 82 per cent backing a merger and only 18 per cent against.

Ninety per cent of advisers who are members of both Sofa and the LIA back the merger, with just 10 per cent against.

The results come from a survey of 319 Sofa and LIA members.

Sofa managing director Bob Bullivant says: “The members have not yet seen the details so I would not expect a robust result.”

Former Sofa director Jo Smith says: “Member votes will be key for the merger and some hurdles need to be overcome. The two organisations have very different member profiles and some compromises might have to be made to align them.”

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